In specie dividend paid if holding BHP at 7pm on Record Date not ex date, page-56

From what I have been told by more learned people than me on this forum, you will receive a dividend notice from BHP equal to whatever the SP of WDS is, multiplied by your WDS allotment ( 925 ) and this will be fully franked. You won't receive the actual cash but WDS shares instead.
You will enter that dollar figure on your 21/22 tax return as income and, depending on your tax brackets and whether you have held your BHP shares for more than 45 days etc, claim a franking credit.

You are then left with the actual WDS shares and its up to you if you sell or keep them. Keep note of the WDS SP that was used to calculate the div as this will be the cost base of the 925 shares for capital gains/losses purposes.

There is probably more to this than what what I have said. I just took notice of what pertained to me. I have held my BHP shares for 2 years so I satisfy the 45 day rule, plus I am below the tax threshold so will claim the franking credit rebate come tax time. I also elected to sell my WDS shares, so at some stage that will come through, just not sure when, hopefully in June sometime.
That's how I understand it but don't take it as gospel